TSX Snaps 5-day Winning Streak, Settle Slightly Down

(RTTNews) - The Canadian market ended flat on Thursday after moving in a tight band in cautious trade amid lingering concerns about global economic slowdown.

Some none too encouraging quarterly earnings and revenue guidance from top U.S. companies also weighed on sentiment.

The benchmark S&P/TSX Composite Index ended down 4.82 points or 0.02% at 20,053.07, after five successive days of gains.

Energy and healthcare stocks declined. Materials and industrials shares found fairly good support. A few stocks from consumer staples and technology sectors also posted notable gains.

The Health Care Caped Index dropped 2.22%. Bausch Health Companies (BHC.TO) and Tilray Inc (TLRY.TO) ended down 4.8% and 4%, respectively.

Energy stocks fell as oil prices tumbled nearly 5%. Birchcliff Energy (BIR.TO) and MEG Energy (MEG.TO) ended down 5.2% and 4.5%, respectively. Nuvista Energy (NVA.TO), International Petroleum Corp (IPCO.TO), Baytex Energy (BTE.TO), Crescent Point Energy (CPG.TO), Suncor Energy (SU.TO), Cenovus Energy (CVE.TO), Paramount Resources (POU.TO) and Precision Drilling Corp (PD.TO) ended lower by 1.9 to 3%.

Materials stocks Fortuna Silver Mines (FVI.TO), Oceanagold Corp (OGC.TO), Torex Gold Resources (TXG.TO), Endeavour Silver Corp (EDR.TO) and Eldorado Gold (ELD.TO) ended higher by 4.7 to 5.4%. Wheaton Precious Metals (WPM.TO), Kinross Gold (K.TO), Equinox Gold Corp (EQX.TO) and Pan American Silver Corp (PAAS.TO) also moved up sharply.

Industrials sector shares Thomson Reuters (TRI.TO) and Snc-Lavalin Group (ATRL.TO) gained 3.1% and 2.1%, respectively.

In Canadian economic news, housing starts in Canada edged up by 1% over a month earlier to 274,700 units in October 2023, above market expectations of 252,900 units, according to the Canada Mortgage and Housing Corporation.